Jun. 19, 2017
Lyte is the fan-to-fan ticket exchange platform for sold out live events. With our exclusive integration, we’re reducing no-shows and protecting fans with a safe and secure way to return and buy tickets for sold-out events.
When your event sells out and Lyte is enabled, ticket holders can instantly return tickets they’re unable to use, and real fans looking for hot tickets can make a credit card reservation to buy 100% guaranteed tickets at better prices than the secondary market when tickets are returned. The waitlist is first-come, first-served, risk-free, and scalper-free, and you get all data between sell-out and doors. In fact, Lyte’s platform puts you in complete control of the ticketing experience from sell out to doors open.
Here’s how one Ticketfly partner used Lyte to help fans get tickets to a high-demand show by eliminating as much of the secondary market around the event as possible.
A cult music comedy group sold out a premier Nashville 1,500 cap venue over a month before showtime. After sell out, prices on the secondary market skyrocketed. The venue wanted a way for fans who could no longer attend to be able return their tickets so other diehard fans could go. The challenge was to ensure that fans who wanted to be there had a shot at getting a ticket at a fair price. The venue launched a ticket exchange on Lyte.
The exchange was announced to ticket holders through an email from Ticketfly. When the venue turned Lyte on, a button appeared on their website letting fans know they could request tickets, and the results were staggering.
62% of transactions happened on Lyte vs the secondary market after the exchanged launched. Professional brokers took a huge hit, driving down what ticket holders made selling reselling tickets from $64 on secondary to $16 on Lyte.
The venue was stoked fewer tickets appeared on other secondary sites. Buyers were happy because they saved an average $48 a ticket. They were also guaranteed a real ticket because Ticketfly issued all tickets purchased through Lyte.
Can Lyte make a positive difference to your bottom line without adding to your workload? Yes, because Ticketfly and Lyte will do the heavy lifting. We’ll generate supply as your waitlist builds, eliminate the secondary market with fair pricing, eradicate fraud with new barcodes, and put fan data in your hands. All you need to do is turn the exchange on, sit back, and enjoy the bonus spend from a full house.